The Deficit: 12 Steps to Ease the Crisis Review
The Deficit: 12 Steps to Ease the Crisis Feature
The American defict has been blamed for many of the world's economic woes and has raised fears that America may no longer be in charge of her own destiny. In The Deficit Ms. Rogers discusses what it means to be the world's largest debtor nation and explores the allegation that America is at the mercy of her foreign creditors. Fact are presented to refute widely held myths regarding service and manufacturing jobs, foreign ownership of American assets and America's trading practices. Among the topics covered are: Privatization, Deregulation, Monetary Considerations, The Availability of Capital, Curbing Waste, Tax Policy, Our Domestic Economy, Global Competition, The Budget Process and Our Political Leaders.
The author points out that if the Grace Commission recommend-ations had been adopted when issued in 1983 we would have saved over $424.2 billion every three years after full implementatioin.
A rising fear that hard work may no longer yield a higher standard of living underlies most worries about the deficit such as the increase in the national debt and foreign ownership of more and more formerly American assets, decline of our manufacturing sector, our ever-widening trade deficit, our sluggish economy, lower production expectations, high unemployment, job creation mainly in government and lower-paying private sector jobs and the need to subsidize an increasingly larger segment of the population. These fears may or may not be justified. Many, according to the author, are exaggerted or misunderstood.
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